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The Breakfast Briefing: US Futures Higher As Markets Await Fed Rate Decision
FYI: U.S. stock index futures traded higher on Wednesday as investors await a policy decision by the U.S. Federal Reserve.
At 03:00 a.m. ET, Dow futures traded 12 points higher, pointing a fairly flat open. Futures in S&P 500 and Nasdaq were trading mixed.
Global stocks were mixed Wednesday as investors adopted a cautious stance before the Federal Reserve policy decision and further news on U.S.-China trade talks, where negotiators remain at odds. Ten-year Treasury yields held near their 2019 lows.
Miners and oil companies led a decline in the Stoxx Europe 600 Index, with German chemical maker Bayer heading for the biggest drop in 15 years after losing a round in a U.S. jury trial over claims its Roundup weed killer causes cancer. In Asia, Japan finished higher, while most other markets dipped. Two-year Treasury yields remained below the top of the Fed’s policy target range amid expectations of a dovish tone from the central bank, while the dollar ticked higher after three days of losses. European sovereign bonds were mixed.
The pound fell as U.K. Prime Minister Theresa May prepared a request for more time to reach a Brexit deal that could win support in the nation’s Parliament. The euro held steady after German producer inflation data missed estimates. Emerging-market currencies and shares were steady. Iron ore fell after a Brazilian court ruled that Vale should be allowed to restart a major mine.
